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Dragonfly Capital has stopped investing in Eclipse after allegations of sexual harassment against its CEO, Neel Somani, came to light.
On May 10th twitter.com/hosseeb/status/1788710996196065575″ target=”_blank” rel=””>mailHaseeb Qureshi, managing partner at crypto VC firm Dragonfly Capital, said his firm declined to invest in Eclipse while it completed due diligence on the L2 solution.
During the process, Dragonfly uncovered a history of sexual harassment surrounding Eclipse founder Neel Somani.
“If we hear this by doing only minimal due diligence, there is no way real investors won't hear the same thing,” Qureshi added.
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The managing director further stated that based on what they had learned, this was a long-standing pattern of behavior on the part of Somani, who is accused of misconduct ranging from inappropriate behavior on social media to serious allegations of sexual assault. .
Qureshi concluded that despite his past, Somani got an investment and successfully sold millions in secondary for a pre-launch token, which was “shameful.”
Meanwhile, on the same day, the Eclipse director also turned to x to maintain his innocence, claiming that he had never sexually assaulted a woman.
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Somani said he would step down from his role as the “public face” of Eclipse, as it would be unfair to the team and the L2 solution “for this situation to weigh on their reputations,” adding:
“I will temporarily reduce my role as the public face of Eclipse. “Eclipse senior management is well equipped to take on these responsibilities and this will allow these conversations to unfold and the truth about these allegations to emerge.”
in a separate twitter.com/EclipseFND/status/1788660781812518933″ target=”_blank” rel=””>statement, Eclipse noted that the firm “remains committed to maintaining the highest personal and professional standards, including gender equality and fair treatment.” The company will also carefully monitor the matter and provide details on the other senior Eclipse members leading Eclipse.
Eclipse co-founder Sam Thapaliya said his company is “committed to maintaining the highest standards of integrity and accountability” across its operations.
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